10 Benefits of the trading block to the African economy

Trading Blocs in Africa.

- The common market for Eastern and Southern Africa (COMESA)

- The East African co-operation (EAC).

- Southern African Development Community. (SADC)

• Economic Community of West Africa. (ECOWAS)

Benefits of trading blocks

• They create a large market for goods to be bought and sold.
• They help to create harmony and co-operation among the member states.
• The reduction of tariffs makes the goods cheaper for the people in the regions.
• The expanded market for goods has promoted industrial development as the demand for goods increases.
• Interstate trade has encouraged the development of transport and communications.
• The trade between the countries has created job opportunities which have led to a high standard of living.
• Trade in the region has stimulated agricultural development.
• Has reduced the reliance of countries in Africa on goods and services from other parts of the world.
• They have made it easier for goods to be readily available to the people of the

Originally published at https://geographypoint.com on November 13, 2020.